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Today, Kansas City Southern and Magellan Midstream Partners L.P. are holding a ribbon cutting ceremony to celebrate the opening of the railroad's new fueling facility and tank-car loading rack in Heavener, Okla.

In April, KCS completed the project's first phase, a 28-mile Spiro-to-Heavener pipeline that was financed by Magellan. In June, the Class I completed the tank-car loading rack under the project's second phase.

"The opening of this facility marks the beginning of a tremendous improvement in asset utilization on the railroad," said KCS Chairman, President and Chief Executive Officer Mike Haverty in a prepared statement.

Between April and October, the facility helped KCS save about $1 million in fuel purchases and transportation costs. Each month, the facility is projected to handle more than 3.2 million gallons of fuel, with half transloaded into tank cars and distributed system-wide.